When Economists Say an Activity Is Consistent with Economic Efficiency

question 166

Multiple Choice

When economists say an activity is consistent with economic efficiency, they mean

• A) a majority of citizens favor the activity.
• B) the benefits that result from the activity exceed the costs.
• C) the number of people who gain from the activity exceeds the number on whom costs are imposed.
• D) the costs that result from the activity exceed the benefits.

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Definitions:

Forcing Style

A conflict resolution approach where one party imposes their solution to the conflict, disregarding the interests and opinions of the other party.

Self-Protection

Refers to behaviours and strategies employed by individuals to preserve their own well-being and safety in various contexts.

Forcing

A conflict resolution strategy that involves pushing one's viewpoint at the expense of others, often disregarding the concerns and rights of other parties.

High-Performing Organizations

Organizations that consistently outperform their peers over time due to effective management, strong cultures, and high employee engagement.